ICRA-assigned Credit Rating for Rs.200.00 crore Line of credit of Sapphire Foods India Limited

The Rating Committee of ICRA, after due consideration, has upgraded the long-term rating on the bank lines of Sapphire Foods India Limited to [ICRA]A (pronounced ICRA A) from [ICRA]BBB+ (pronounced ICRA triple B Plus) and upgraded the long term/short term unallocated limits to [ICRA]A/[ICRA]A2+ (pronounced ICRA A/ICRA A Two Plus) from [ICRA]BBB+/A2 (Pronounced ICRA triple B plus/ICRA A two). The outlook on the long-term rating has been revised to Stable from Positive. Instruments with [ICRA]A rating indicate Adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.

Shares of Sapphire Foods India Limited was last trading in BSE at Rs. 1213.00 as compared to the previous close of Rs. 1245.60. The total number of shares traded during the day was 29836 in over 4034 trades.

The stock hit an intraday high of Rs. 1265.25 and intraday low of 1181.90. The net turnover during the day was Rs. 36483451.00.

Source : Equity Bulls

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